Salmones Camanchaca CEO resigns

The CEO of Oslo-listed Chilean salmon-grower Salmones Camanchaca has resigned after a period of leadership that included growing the recently listed salmon division for more than 15 years.

Outgoing chief exec Jorge Fernández García will seek a role on the board of parent company Compañía Pesquera Camanchaca and of Salmones Camanchaca, investors were told late Wednesday.

García could join the board as early as April 26th, replacing his father, Jorge Fernández Valdés, who founded the parent company 40 years ago.

Manuel Arriagada Ossa, a civil engineer by training, becomes the new CEO. He has “extensive experience in the sector” and “has been linked to Salmones Camanchaca”. He served Salmones Camanchaca in the Puerto Montt salmon-growing region and has been CEO of wild-catch subsidiary, Pesquera Pacific Star- Fiordo Austral.

“This management change aims to project into the future the success of the company in the last 40 years,” the note to investors said.

Garcia led the company to an initial public offering on the Santiago Stock Exchange in 2010, 30 years after it started as a coastal mixed fisheries outfit in Chile’s Region VIII. During his tenure, “The company experienced a great expansion into international markets.”

However, Arriagada Ossa, too, is said to have had “a valuable role” in Salmones Camanchaca’s Oslo and Santiago listings.